• Major US stock indexes closed trading mixed

Market news

24 December 2019

Major US stock indexes closed trading mixed

Major US stock indexes ended the shortened trading session in different directions, but remained close to record levels, amid continued optimism about improving trade relations between the US and China and the healthy state of the US economy.

Bidding took place in conditions of reduced activity, as traders were preparing for the Christmas holidays. Recall, the main US stock exchanges will be closed on Wednesday at Christmas. On Thursday and Friday, the US stock market will operate normally.

The US data attracted some attention from market participants, which showed that the Richmond Federal Reserve Index, which measures manufacturing activity in the Fifth District, fell in December to -5 points from -1 point in November. Economists had expected an improvement to +9 points. The report said that the fall in the index was due to a decrease in the already negative supply components and new orders, while the third component, employment, increased slightly. Manufacturers also reported weak local business conditions and capacity utilization, but they were optimistic that conditions would improve in the coming months.

Most of the DOW components completed trading in the red (19 of 30). Outsiders were shares of 3M Company (MMM; -1.16%). The biggest gainers were The Home Depot Inc. (HD; + 0.72%).

S&P sectors showed mixed dynamics. The conglomerate sector grew the most (+ 0.6%). The largest decline was shown in the industrial goods sector (-0.3%).

At the time of closing:

Dow 28,515.45 -36.08 -0.13%

S&P 500 3,223.35 -0.66 -0.02%

Nasdaq 100 8,952.88 +7.24 + 0.08%

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